BHOGILAL HARGOVANDAS PATEL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) -

(2.) THIS is a reference made by the Commissioner under Section 66(2) of the Indian Income-tax Act. The question he raises is "Whether in view of the provisions of Sec. 26(2) to the Income-tax Act, 1922, the Income-tax Officer acted correctly in not taking into account the loss in the cigarette business during the period January 1 to August 31, 1933, on the ground that at the time of assessment the assessee was not carrying on that business, having transferred it to the Zenith Tobacco Co., Ltd., which carried it on from September 1, 1933."